The German economy will stagnate in the first quarter of the year, Ifo economist Klaus Wohlrabe said on Monday, in the latest sign of the toll being taken by lockdown on Europe’s largest economy.
“The German economy is starting the year with little confidence,” Wohlrabe said, adding that delays in COVID-19 vaccine deliveries were adding to the uncertainty.
German business morale fell by more than expected in January as a second wave of COVID-19 brought to a halt a recovery in Europe’s largest economy, a survey showed on Monday.
Reporting by Rene Wagner; Writing by Riham Alkousaa; Editing by Thomas Escritt
Source: Reuters